6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.
For the quarter ended Dec. 31, 2010, sales were $1.1 billion, an increase of 38 percent over the same period in 2009. Profit was $90.3 million, compared to year-ago loss of $20.2 million.
Timken's Bearings and Power Transmission Group posted sales of $2.8 billion in 2010, up 13 percent from the prior year. The group earned $383 million before interest and taxes (EBIT) during the year, an increase of 73 percent from 2009. The group's fourth-quarter 2010 sales were $721.8 million, up 17 percent from the 2009 comparison. EBIT in the fourth quarter was $94.6 million, up 32 percent.
Mobile Industries' sales were $1.6 billion in 2010, up 25 percent from $1.2 billion a year ago. Mobile Industries achieved record EBIT of $223.5 million for the year, up significantly from $30.5 million earned in 2009. Fourth-quarter sales were $388.6 million, compared with $324.6 million in sales the same period last year. EBIT in the fourth quarter was $52 million, up from $31.1 million earned in the fourth quarter of 2009.
Sales for the Process Industries segment were $903.4 million in 2010, an increase of 12 percent from $808.7 million a year ago. Process Industries generated $138.2 million in EBIT for the year, up 17 percent. Fourth quarter 2010 sales were $250.7 million, compared with $189.6 million in the fourth quarter last year, and EBIT was $45.2 million, up 89 percent.
The Aerospace and Defense segment reported sales of $338.3 million in 2010, down 19 percent from $417.7 million a year ago. The segment's 2010 EBIT fell to $21.2 million, compared with $72.5 million a year ago. Sales fell 17 percent to $82.5 million in fourth quarter. The business incurred a loss of $2.6 million for the quarter, versus EBIT of $16.6 million a year ago.
Timken's Steel Group posted 2010 sales of $1.4 billion, up 90 percent over 2009 sales. EBIT income was $146.3 million in 2010, compared with a loss of $57.9 million in 2009. The Steel Group recorded $379.8 million in sales in the fourth quarter, up 119 percent from the prior year's fourth quarter. EBIT was $42 million, up from last year's fourth-quarter EBIT of $2.5 million.